Vital advice for farming families at Louth seminar

An agricultural seminar looking at how farming families can best secure their futures will feature expert speakers from two of the region’s most established legal and accountancy firms.

Wilkin Chapman solicitors and Forrester Boyd Chartered Accountants have teamed up to stage ‘Farming today for tomorrow – securing the farm for future generations’, which is free to attend, with advance booking essential.

The morning session will take place at the Brackenborough Hotel, Louth, on Tuesday November 27 from 7.30am until 9.30am with breakfast and networking.

The seminar will focus on the importance of succession planning for the future in the areas of tax, Wills and estates.

Alan Nesbitt, Lee Bradbury, and Phil George from Forrester Boyd will join Wilkin Chapman Partner Flora Bennett and Anne Dales, a Senior Solicitor specialising in Wills and Estate planning, for the morning.

Using a case-study scenario, the professionals will ask their audience to consider a family of two generations, which runs a 1,000-acre mixed farm that has a whole host of different business interests running within it, involving brothers, wives, sons and daughters. When one brother is diagnosed as terminally ill, the family must sort out their affairs.

Anne Dales said the scenario was not uncommon among farmers, who often did not think far enough ahead and plan for the next generation.

Anne said: “While no-one wishes to think of a time when they may not be masters of their own destiny, it is simply a subject that must be broached and is especially vital for those with land and often complex business affairs.

“Sitting down with a professional to put things in order and communicating those plans to the next generation will prevent problems further down the line and present a smoother passage for all concerned.”